TPG is back in the Australian outback. The Fort Worth, Texas based private equity firm has teamed up with Global Infrastructure Partners, a joint venture of General Electric and Credit Suisse, to make an A$8 billion ($7.4
billion) offer for ports and rail-freight company Asciano Ltd. It would rank as Australia's largest ever leveraged buyout.
A success for TPG would be a welcome change after the demise of its A$20 billion offer for retailer Coles Group Ltd. in 2006 and the defeat of its A$12 billion bid for Qantas Airways Ltd. last year. -- Barbara Rudolph
TheDeal.com: TPG attempts new Australian buyout (subscription required)
